Hong Kong airport authority invests CNY 4.3 billion for 35% stake in Zhuhai airport
Posted: 26 November 2024 | Gabriel Higgins | No comments yet
The Airport Authority Hong Kong has invested CNY 4.3 billion to acquire a 35% stake in Zhuhai Airport, enhancing collaboration and boosting aviation growth in the Greater Bay Area.
Exterior of Zhuhai Airport T1, Credit: Hong Kong International Airport
The Airport Authority Hong Kong (AAHK) has announced the signing of a share acquisition agreement with Zhuhai Transportation Holding Group in Zhuhai. Through this agreement, AAHK will invest approximately CNY 4.3 billion to secure a 35% stake in Zhuhai Airport.
This strategic move aims to strengthen collaboration between Hong Kong International Airport (HKIA) and Zhuhai Airport, fostering the growth of a world-class airport network in the Greater Bay Area (GBA) and supporting the advancement of the region’s aviation sector.
Details of the Hong Kong Airport Authority agreement
Fred Lam, Chairman of AAHK, said, “Thanks to the strong support of the Central Government and Guangdong Provincial Government, the Hong Kong and Zhuhai airports have been deepening our cooperation. With AAHK’s acquisition of shares in Zhuhai Airport, we will further capitalise on strengths of the two airports by leveraging the convenience brought by the Hong Kong-Zhuhai-Macao Bridge. This will not only bring more passenger and cargo traffic to Zhuhai Airport, but also enables travellers from Zhuhai and other cities in the western part of the GBA to enjoy the global connectivity provided by HKIA’s extensive aviation network, achieving mutual benefits.”
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The agreement was signed by Vivian Cheung, Acting Chief Executive Officer of AAHK and Chen Weijia, Chairman of Zhuhai Transportation Holding Group, and witnessed by Huang Zhihao, Mayor of the Zhuhai Municipal Government; Yang Chuan, Member of the Standing Committee of the CPC Zhuhai Municipal Committee and Deputy Mayor of the Zhuhai Municipal Government; Huang Zhenqiu, Deputy Mayor of the Zhuhai Municipal Government; Huang Shengpeng, Second-level Inspector of Policy Innovation Division of The Greater Bay Area Office of People’s Government of Guangdong; Lam Sai-hung, Secretary for Transport and Logistics of the Hong Kong Special Administrative Region; and Fred Lam, Chairman of AAHK.
Meanwhile, Hong Kong-Zhuhai Airport Management Company Limited, a subsidiary of AAHK, will extend its management rights for the operation and management of Zhuhai Airport to 2046.
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Related topics
Airport development, Economy, Funding and finance, Non-aeronautical revenue
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Airport Authority Hong Kong (AAHK), Hong Kong-Zhuhai Airport Management Company Limited, The Greater Bay Area Office of People’s Government of Guangdong, Zhuhai Municipal Government, Zhuhai Transportation Holding Group
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